Peru Labor Minister calls for technical studies on ninth AFP withdrawal

Peru's Minister of Labor and Employment Promotion, Juan Sheput, has stated that proposals for a ninth withdrawal from private pension funds (AFP) must be evaluated using updated technical studies. He noted that previous withdrawals were approved without sufficient technical depth, which he believes has negatively impacted economic productivity and various sectors.

Sheput specifically warned of social and institutional consequences, particularly regarding the health sector. He explained that a significant reduction in pension funds could create financial gaps for EsSalud, potentially hindering the institution's ability to provide services to insured members and placing greater pressure on state institutions.

Legislative initiatives currently under consideration in Congress include a proposal allowing affiliates to withdraw up to four Tax Units (UIT), an amount equivalent to S/ 22,000 in 2026. The minister urged lawmakers to consider the long-term economic and social impacts rather than focusing solely on the immediate benefits to individual affiliates.